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The developer of a proposed water park in Augusta Township has completed most of the engineering studies for his $90-million project and he intends to apply for a rezoning before the end of the year.

Merrickville-area businessman Stefano Ferrante said the environmental impact study, the traffic study and the hydrogeological study have been finished and they show the proposed site on Merwin Lane just south of Highway 401 outside of Prescott could easily accommodate the massive project.

Key to an aqua park is, of course, water, and Ferrante said there is plenty on the 260-acre site to support the project. The development plans to use well water, instead of sourcing it from, say, Prescott.

Ferrante proposes to build the Aqua World Resort and Convention Centre that would include an indoor water park, an outdoor water spa and a hotel.

Besides the studies required to rezone the land, Ferrante said he is proceeding with work on the engineering and design of the water park itself. He has hired aquatic engineers and the architect is working on the design of the project.

Ferrante said he is determined to see the project go ahead and the target is still the spring of 2019 for a start on construction.

“I’m funding this as if it’s going to happen no matter what,” he said. “I’m funding this on the assumption that it’s going to be shovel in the ground in 2019. I’m not delaying this or putting the foot on the brakes to wait for money to come in, I’m funding this personally.”

The total cost of the project is $90 million, which is up $15 million from the initial estimate last spring. Ferrante said he has to raise $36 million on the capital markets and borrow the rest.

To that end, Ferrante was in New York City last month to beat the bushes for investment capital.

He was accompanied by Augusta Mayor Doug Malanka to meet investment bankers interested in funding new projects.

Malanka said he and Ferrante managed to meet with many of the 14 banks represented at an investment gathering. His job was to pitch Ontario, Leeds and Grenville and Augusta as the ideal location for a water park, Malanka said.

Ferrante said he has received “strong interest” in his plans from investors.

The Augusta council has expressed its enthusiastic support of Ferrante’s project and it paid for Malanka’s ticket and hotel to New York City.

The mayor bristles at some social-media posts portraying his trip as a junket. Malanka told his council that he had to postpone a trip to Germany to go to the Big Apple, forcing his wife to fly overseas on her own. Malanka said he arrived in New York at 11 p.m. and was at the bankers’ meetings at 8 a.m. the next day. After the all-day meeting Malanka went directly to the airport to fly to Germany to start his vacation.

As a result of the New York presentation, the mayor said he missed the celebration of his grandchild’s second birthday, which was the point of the trip to Germany.